City Matters Edition 014 Christmas 2016

Page 6 | Christmas 2016
Business Matters
Solid first steps in
pay gap overhaul
THE government’s focus on the gender pay gap
should be welcomed, Mercer has said.
However, the human resources consulting
firm say that while new requirements bring
some much needed clarity, the measures
proposed are blunt and organisations should
be prepared to explain why they have a pay gap
and how they plan to close it.
The regulations require UK organisations
with more than 250 employees to report on
their gender pay gap. The gap is calculated
simply by taking all employees and comparing
what women earn compared to men. However,
Mercer say that this is often confused with
equal pay.
Equal pay legislation, in contrast, compares
the pay of men and women at the same level
in the organisation and equal pay rules outlaw
significant differences in men and women’s
remuneration for same or similar work.
An organisation having a poor gender pay
gap does not imply an unfair treatment of
women in terms of pay, but it does likely point
to issues of low female career progression or
less women in higher paid specialist roles.
“We welcome the government’s focus on
the issue and it is clear that it is getting the
attention of businesses,” said Chris Charman,
reward expert at Mercer.
“Organisations must now report using quite
a blunt series of statistics that in themselves do
not give the employer any insight, and so they
should focus hard on understanding what is
driving their gender pay gap.
“Employers will need to demonstrate for
themselves that they are paying fairly and that
the gap is not down to unequal pay.
“The first step must be to ensure pay and
bonus programmes do not discriminate and
then look into the deeper causes of any gaps.”
Khan is winning
over City firms
BUSINESSES ENCOURAGED BY LONDON MAYOR
JUST over six months into the job and
the Mayor of London appears to be
winning round businesses, according
to a new report for London Chamber
of Commerce and Industry (LCCI).
The poll of more than 500 firms,
conducted by ComRes on behalf of
the chamber, showed that London
businesses are more likely to think that
Sadiq Khan is pro-business (39%) than
anti-business (16%).
While the proportion who see him
as pro-business is unchanged from Q1
this year, the proportion who see him
as anti-business has dropped (down
from 27%).
LCCI chief executive Colin
Stanbridge said: “No doubt in one
sense the Mayor will view this a good
news as it is certainly an improvement
on business perception of him before
the election.
“However, Mayor Khan can’t be
resting on his laurels as a third of
businesses still think he is neutral and
16% believe he is anti-business.
“While fewer business leaders
now see him as anti-business, the
proportion who see him as actively
pro-business is unchanged, suggesting
that business leaders are still cautious
about his credentials.”
Mr Stanbridge said that LCCI
members had been encouraged by
Mr Khan’s decision to bring forward
transport infrastructure projects such
as the Night Tube and the Bakerloo
line extension, as well as backing
the £344million expansion of London
City Airport.
“We are also pleased that he has
taken on board our proposals for a
London work permit and London
vote of confidence:
Mayor Sadiq Khan
visa in the wake of the referendum,”
he added. “All of these are essential to
ensure that London remains globally
competitive, especially at a time when
businesses are uncertain about the
future.
“However, we would question his
hesitancy to back a third runway at
Heathrow.
“Therefore he’s not making a bad
start but I’m not sure he has quite yet
fulfilled his pledge to be the ‘most
pro-business mayor ever’. There’s still
a lot left to play for.”
CITYMATTERS.LONDON
Women billed
for top roles
LEADING names in
the world of business
have thrown their
weight behind plans
to increase the
number of women in
top-level job roles in
the next five years.
The likes of
Barclays, HSBC,
Aviva and the London
Stock Exchange
Group – along
with 67 other firms
signed up to the
Treasury’s Women
in Finance Charter
– have committed to
increasing the average
number of female
employees in seniors
positions to 35% from
27% by 2020.
CEO of Virgin
Money Jayne-Anne
Gadhia said: “More
women than men
start out in financial
services but, as they
progress, the majority
fall out, especially at
middle management
level. This leaves
almost all the top jobs
in the hands of men.
“Achieving a
balanced workforce at
all levels will improve
culture, behaviour,
profitability and
productivity.”
PUBLIC NOTICES
Section 17 Licensing Act 2003
Licensing Act 2003 Application for a new
Premises Licence
Notice is hereby given that Conilon Ltd has applied to the City of
London on 14th December 2016 for a new premises licence to use
2 Plough Place, London EC4A 1BG
For the provision of Licensable Activities namely:-
The Supply of Alcohol Monday to Friday between 0700-2200
A record of this application is held by the City of London and can
be viewed by members of the public online by visiting
www.cityoflondon.gov.uk or by appointment at the offices of City
of London licensing authority, Walbrook Wharf, 78-83 Upper
Thames Street, London. EC4R 3TD.
Any person wishing to make a representation in relation to this
application must give notice in writing to the licensing authority at
the address shown above, giving in detail the grounds for objection
by 11th January 2017.
The licensing authority must receive representations by the date
given above.
The licensing authority will have regard to any such representation
when considering the application.
It is an offence under section 158 of the Licensing Act 2003, to
knowingly or recklessly make a false statement in or in connection
with an application for premises licence and the maximum fine on
being convicted of such an offence is £5000.
Brokerage seals
bronze accolade
THE Brokerage Citylink has been awarded a
bronze accolade at the Training Journal Awards
capital, enabling them to compete on a level
playing field with their peers.”
for its flagship internship programme.
Since The Brokerage began delivering
The City-based social mobility charity was
hailed in the best not-for-profit programme
category, and recognised for initiatives that
have a “lasting impact” on the organisation and
its beneficiaries.
The City of London Business Traineeship, run
on behalf of the Corporation, helps state school
students from the City’s neighbouring boroughs
to develop the skills needed for a successful
career.
the programme in 2000, over 1,300 young
people have benefited from paid internships
with more than 100 of the Square Mile’s top
employers.
By fully integrating young people into the
operations of the company, with real work and
real responsibility, students are able to develop
their skills, with more than 50% later using the
experience as a springboard into a career in
professional and financial services.
Through the programme, students can access
six to 13-week paid internships at some of the
Square Mile’s most prestigious businesses and
institutes.
Development
Société Générale, Bank of England, Marsh,
CNA Hardy and William Blair are among
the firms that have taken part in the past 12
months.
Melissa Lucien, head of programmes at
The Brokerage, said: “Receiving this award
for delivering the City of London Business
Traineeship programme is fantastic, and for
us has reinforced the importance of good, paid
work experience.
“Trainees on the programme are paid the
London Living Wage (as a minimum), to
ensure equal access for all, and the learning and
development opportunities that the students
receive alongside working provide them with
an opportunity to really build their cultural
Talent
Mark Boleat, policy chairman at the
Corporation, revealed his pride at the awarding
of the bronze prize.
He added: “Offering paid internships means a
company can attract young talent from all walks
of life, not just those who can afford to work for
free.
“The City Business Traineeship has, so far,
supported thousands of state school students
from some of London’s most deprived areas
into prestigious paid internships across the
Capital.
“We continue to develop new and innovative
employment schemes across the Capital,
giving people a chance to cultivate essential
employability skills.”
City-based companies that would like to take
part in this initiative by offering internships in
summer 2017 should contact The Brokerage for
more information.